With an REIV 66% clearance rate, every real estate agent, commentator and data analyst is espousing the fact that the market has turned. Claims of suburbs monthly and quarterly medians going up are heralding the revival of massive capital growths for all properties. You have got to be kidding! I noticed one reporting company talking […]
With the REIV stating a 64% clearance rate, spring seems to have come early for some vendors and agents. There were over 600 auctions on Saturday with another 526 private sales last week. This time last year there were approximately 628 auctions with only a 53% clearance rate and only 505 sold privately throughout the […]
There was a 60% clearance rate this weekend from 619 auctions. There were also over 450 private sales. Of the three properties we purchased last week all were either gazetted auctions or deadline sales. All were purchased prior to the gazetted date. Agents are definitely becoming more open to offers prior to auction when the […]
Plenty of auctions over the weekend that surpassed expectations and a few that didn’t. In Ascot Vale a single fronted fully renovated house sold for $1,520,000. Only two bidders vied for the property but ended up well above reserve to purchase under the hammer. The vendors would have to be happy with a result like […]
Whilst there was a reasonable 62% REIV clearance rate this weekend and everyone is talking about the spring rush, you need to be aware that the true “spring selling season” starts in about 5 weeks. This is Victoria! This is September! This is AFL Finals month! There will be some new properties coming onto the […]
Well that’s it then! 66% clearance rate means the entire Melbourne property market has turned around and prices will begin to climb. Over 6 out of 10 properties sold at auction on Saturday! If I am buying a home now I better get ready to simply out bid the next guy! Nothing could be further […]
The REIV are reporting a clearance rate of 58% for the weekend. With results now firmly sitting under 60% we are starting to see more agents doing deals outside the auction method of sale. Selling agents will be looking for more innovative ways of selling their clients homes over spring. With annual turnover down substantially, […]
I thought I would move away from the usual statistical diatribe and clearance rate discussions, which the REIV listed as 55% with another 49 auctions still to be recorded and talk about The Real Estate industry as a whole. Most people who are buying, selling or leasing a home, as a tenant or landlord will […]
With turnovers getting lower and lower it is nearly impossible to give a week by week update on the Melbourne property market. There were only 193 properties actually sold at auction and this would include all properties that passed in and were sold subsequently during negotiations. The overall REIV clearance rate which includes all properties […]
With an REIV Auction clearance rate again above 60% it is easy for property commentators and agents that look at one market to say the market has probably bottomed out. You can look at one data analyst’s figures and say the market is improving, you can look at another and it is “obvious” that the […]
